2,365 Shares in Graco Inc. (NYSE:GGG) Acquired by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC acquired a new position in Graco Inc. (NYSE:GGG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,365 shares of the industrial products company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. PineStone Asset Management Inc. grew its stake in Graco by 134.4% in the second quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock worth $330,532,000 after purchasing an additional 2,390,602 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Graco by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after purchasing an additional 91,794 shares in the last quarter. TD Asset Management Inc grew its stake in Graco by 14.5% in the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after purchasing an additional 182,470 shares in the last quarter. Flossbach Von Storch AG purchased a new stake in Graco during the first quarter worth $111,428,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Graco by 32.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock worth $84,775,000 after buying an additional 259,819 shares during the period. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GGG. DA Davidson restated a “neutral” rating and set a $79.00 target price on shares of Graco in a report on Friday, September 27th. Robert W. Baird lowered their target price on Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, Royal Bank of Canada lowered their target price on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $90.25.

Graco Trading Down 1.1 %

Shares of GGG opened at $82.89 on Thursday. Graco Inc. has a 12 month low of $69.78 and a 12 month high of $94.77. The stock has a fifty day moving average price of $83.88 and a 200-day moving average price of $82.79. The firm has a market cap of $14.02 billion, a PE ratio of 28.58, a P/E/G ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. Graco had a return on equity of 22.40% and a net margin of 23.16%. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. During the same period in the prior year, the firm earned $0.75 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts forecast that Graco Inc. will post 2.98 EPS for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, October 21st. Graco’s dividend payout ratio is currently 35.17%.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.